The Tampa Bay Rays have successfully negotiated a one-year extension on Tyler Glasnow’s existing deal.The right-hander was due to enter free-agency after next season, but his new contract now prolongs his stay in St. Petersburg until 2024.According to MLB insider Jeff Passan, the Rays will pay Glasnow $5.35 million in 2023 and an astonishing $25 million the year after.Jeff Passan@JeffPassanRight-hander Tyler Glasnow and the Tampa Bay Rays are in agreement on a one-year, $25 million contract extension, sources tell ESPN.Glasnow, 29, was set to reach free agency after the 2023 season. Rays will pay him $5.35 million next year as he returns from Tommy John surgery.3752320Right-hander Tyler Glasnow and the Tampa Bay Rays are in agreement on a one-year, $25 million contract extension, sources tell ESPN.Glasnow, 29, was set to reach free agency after the 2023 season. Rays will pay him $5.35 million next year as he returns from Tommy John surgery."Right-hander Tyler Glasnow and the Tampa Bay Rays are in agreement on a one-year, $25 million contract extension, sources tell ESPN. Glasnow, 29, was set to reach free agency after the 2023 season. Rays will pay him $5.35 million next year as he returns from Tommy John surgery." - Jeff PassanThey have never previously offered a $25 million annual salary to any player. Although, Justin Verlander’s Astros deal will cross that figure in 2028 under the terms of his 11-year-extension contract, which he signed last year.Casey@CaseyJ_516@JeffPassan The Rays? 25 mill in one yr?141@JeffPassan The Rays? 25 mill in one yr? https://t.co/xsgtgfybufThe move has caught many fans off-guard since the Rays are not known for spending so heavily.eduardo🎤😠@mookieplswin@JeffPassan holy overpay5@JeffPassan holy overpayConor Buckley@conorbuckley46@JeffPassan the Rays gave a player, let alone a PITCHER, $25 million???1562@JeffPassan the Rays gave a player, let alone a PITCHER, $25 million???ryan @hoodieglasnow@JeffPassan WE ACTUALLY PAID HIM HOLY SHIT29@JeffPassan WE ACTUALLY PAID HIM HOLY SHITSince joining the Rays in 2018, Glasnow is 17-9 with a 3.10 ERA in 48 starts. He is recovering from Tommy John Surgery and is yet to pitch this season.Berserk@jman41500@JeffPassan A whole lotta money for a Tommy John year@JeffPassan A whole lotta money for a Tommy John yearDean Johnson@deanjohnson56@JeffPassan That's a lot of money for a guy that can't stay healthy. Good for him.@JeffPassan That's a lot of money for a guy that can't stay healthy. Good for him.Glasnow blew out his elbow on June 14 last year while playing against the Chicago White Sox. At the time, he ranked second in the majors with 123 strikeouts to his name. He was sixth in the American League with a 2.66 ERA.Tampa Bay Rays banking heavily on Glasnow’s comebackThe Tampa Bay Rays have supported Glasnow throughout his rehab and it’s evident that they have immense trust in his abilities.When Glasnow returns to full fitness, the Rays will boast a rotation headlined by Glasnow and Shane McClanahan.Sr. B@raysmario@JeffPassan If healthy Shane McClanahan Tyler Glasnow Drew Rasmussen Jeffrey Springs Shane Baz Plus Luis Patiño, Yonny Chirinos, Brendan McKay and young studs Taj Bradley and Cole Wilcox, Rays are LOADED1013@JeffPassan If healthy Shane McClanahan Tyler Glasnow Drew Rasmussen Jeffrey Springs Shane Baz Plus Luis Patiño, Yonny Chirinos, Brendan McKay and young studs Taj Bradley and Cole Wilcox, Rays are LOADEDDataman1989@dataman1989@JeffPassan Love the extension. If Glasnow proves himself, then that contract looks like an addition to a great trading chip. The Rays can trade him and not pay that $25 million dollar deal.@JeffPassan Love the extension. If Glasnow proves himself, then that contract looks like an addition to a great trading chip. The Rays can trade him and not pay that $25 million dollar deal.💨@PardonMyDank@JeffPassan HYPED. Him, Rasmussen, Shane, Baz when healthy. LETHAL@JeffPassan HYPED. Him, Rasmussen, Shane, Baz when healthy. LETHALRays manager Kevin Cash couldn’t be happier, and understandably so. A double-edged Glasnow-McClanahan sword has the potential to slice through any offense.“Just to think about a healthy Glasnow that adds to what we would consider a really good starting rotation as-is, how can you not be excited about it? Before Glasnow's injury, and then what McClanahan [is doing], you put those guys together, it's probably hard to find 1-2 punches that are better." - Kevin CashIf Glasnow can pick up right where he left off, then the deal won’t seem inflated at all. It’s a high risk move, but with the potential for even higher rewards.For more news and updates, go to the Sporskeeda Baseball page.